Liberty Global price target lowered to $23 from $26 at Berenberg

Berenberg lowered the firm’s price target on Liberty Global to $23 from $26 and keeps a Buy rating on the shares. While Liberty faces challenges in the form of greater infrastructure competition and higher interest rates, the impact can be “cushioned” by further synergy realization in the U.K. and Switzerland, and the potential for partial monetization of Liberty’s Ventures portfolio and its tower assets, the analyst tells investors in a research note.